Detailed Single Year Tables

Description of Proposed Provision:
Progressive indexing (30th percentile) of PIA factors beginning with individuals newly eligible for OASI benefits in 2017, continuing through 2026, and resuming in 2065: Create a new bend point at the 30th percentile of the AIME distribution of newly retired workers. Maintain current-law benefits for earners at the 30th percentile and below. Reduce the 32 and 15 percent factors above the 30th percentile such that the initial benefit for a worker with AIME equal to the taxable maximum is reduced by 1.13 percent per year as compared to current law (for the years that progressive indexing applies). Disabled workers are: (a) not affected prior to normal retirement age; and (b) subject to a proportional reduction in benefits, based on the worker's years of disability, upon conversion to retired-worker beneficiary status.

&nbsp

Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2014

13.95

12.67

-1.29

320

0.00

0.00

0.00

2015

13.97

12.92

-1.05

306

0.00

0.00

0.00

2016

13.97

12.89

-1.08

292

0.00

0.00

0.00

2017

13.97

12.91

-1.06

277

0.00

0.00

0.00

2018

14.01

12.93

-1.08

263

0.00

0.00

0.00

2019

14.14

12.94

-1.20

248

-0.01

0.00

0.01

2020

14.32

12.96

-1.36

233

-0.01

0.00

0.01

2021

14.48

12.98

-1.50

219

-0.02

0.00

0.02

2022

14.70

13.01

-1.69

204

-0.03

0.00

0.03

2023

14.95

13.03

-1.92

189

-0.05

0.00

0.05

2024

15.20

13.05

-2.15

173

-0.07

0.00

0.07

2025

15.44

13.07

-2.38

156

-0.10

0.00

0.09

2026

15.66

13.08

-2.58

140

-0.13

-0.01

0.12

2027

15.87

13.10

-2.77

123

-0.16

-0.01

0.15

2028

16.05

13.11

-2.94

106

-0.19

-0.01

0.19

2029

16.21

13.12

-3.08

89

-0.23

-0.01

0.22

2030

16.33

13.13

-3.20

71

-0.27

-0.01

0.26

2031

16.44

13.14

-3.30

52

-0.31

-0.02

0.29

2032

16.52

13.15

-3.37

33

-0.35

-0.02

0.33

2033

16.57

13.15

-3.42

13

-0.38

-0.02

0.36

2034

16.61

13.16

-3.45

----

-0.42

-0.02

0.40

2035

16.64

13.16

-3.47

----

-0.45

-0.02

0.43

2036

16.64

13.17

-3.47

----

-0.49

-0.03

0.46

2037

16.63

13.17

-3.46

----

-0.52

-0.03

0.49

2038

16.59

13.17

-3.42

----

-0.55

-0.03

0.52

2039

16.54

13.17

-3.38

----

-0.57

-0.03

0.54

2040

16.49

13.17

-3.32

----

-0.60

-0.03

0.57

2041

16.43

13.17

-3.26

----

-0.62

-0.03

0.59

2042

16.37

13.16

-3.20

----

-0.65

-0.03

0.61

2043

16.31

13.16

-3.15

----

-0.67

-0.03

0.63

2044

16.27

13.16

-3.11

----

-0.69

-0.04

0.65

2045

16.23

13.16

-3.07

----

-0.71

-0.04

0.67

2046

16.20

13.16

-3.04

----

-0.73

-0.04

0.69

2047

16.17

13.16

-3.01

----

-0.75

-0.04

0.71

2048

16.14

13.16

-2.98

----

-0.76

-0.04

0.72

2049

16.12

13.16

-2.96

----

-0.78

-0.04

0.74

2050

16.10

13.16

-2.94

----

-0.79

-0.04

0.75

2051

16.09

13.16

-2.93

----

-0.80

-0.04

0.76

2052

16.10

13.16

-2.94

----

-0.81

-0.04

0.77

2053

16.12

13.16

-2.95

----

-0.82

-0.04

0.78

2054

16.14

13.17

-2.98

----

-0.83

-0.04

0.78

2055

16.18

13.17

-3.01

----

-0.84

-0.04

0.79

2056

16.22

13.17

-3.05

----

-0.84

-0.04

0.80

2057

16.26

13.17

-3.09

----

-0.85

-0.05

0.80

2058

16.31

13.18

-3.13

----

-0.85

-0.05

0.81

2059

16.35

13.18

-3.17

----

-0.86

-0.05

0.81

2060

16.40

13.18

-3.21

----

-0.86

-0.05

0.82

2061

16.44

13.19

-3.25

----

-0.87

-0.05

0.82

2062

16.49

13.19

-3.29

----

-0.87

-0.05

0.82

2063

16.53

13.19

-3.34

----

-0.87

-0.05

0.82

2064

16.57

13.20

-3.38

----

-0.87

-0.05

0.83

2065

16.62

13.20

-3.42

----

-0.88

-0.05

0.83

2066

16.67

13.20

-3.46

----

-0.88

-0.05

0.83

2067

16.71

13.20

-3.50

----

-0.89

-0.05

0.84

2068

16.75

13.21

-3.54

----

-0.89

-0.05

0.85

2069

16.79

13.21

-3.58

----

-0.90

-0.05

0.85

2070

16.83

13.21

-3.61

----

-0.91

-0.05

0.86

2071

16.85

13.21

-3.64

----

-0.93

-0.05

0.88

2072

16.87

13.22

-3.66

----

-0.94

-0.05

0.89

2073

16.88

13.22

-3.66

----

-0.96

-0.05

0.91

2074

16.88

13.22

-3.66

----

-0.99

-0.05

0.93

2075

16.87

13.22

-3.65

----

-1.01

-0.05

0.96

2076

16.85

13.22

-3.63

----

-1.04

-0.06

0.99

2077

16.82

13.21

-3.60

----

-1.08

-0.06

1.02

2078

16.78

13.21

-3.57

----

-1.11

-0.06

1.05

2079

16.75

13.21

-3.54

----

-1.15

-0.06

1.09

2080

16.71

13.21

-3.50

----

-1.19

-0.06

1.13

2081

16.68

13.21

-3.47

----

-1.24

-0.07

1.17

2082

16.65

13.21

-3.45

----

-1.28

-0.07

1.22

2083

16.63

13.20

-3.42

----

-1.34

-0.07

1.27

2084

16.61

13.20

-3.40

----

-1.39

-0.07

1.32

2085

16.59

13.20

-3.39

----

-1.45

-0.08

1.37

2086

16.57

13.20

-3.37

----

-1.52

-0.08

1.43

2087

16.56

13.20

-3.36

----

-1.58

-0.09

1.50

2088

16.54

13.20

-3.34

----

-1.65

-0.09

1.56

2089

16.52

13.20

-3.32

----

-1.72

-0.09

1.63

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2014 Trustees Report.

2014-2088

16.16%

13.86%

-2.30%

2033

-0.61%

-0.03%

0.58%

&nbsp

1 Under present law, the year of Trust
Fund reserve depletion is 2033.